"The government's approach to provide relief and promote digital economy among individuals as well as companies through lowering of tax slabs, provision of exemptions, reduction of customs duty and capping of cash transactions; is a definite change we can all look forward to," Reddy said.

"Stressing domestic demand, higher public expenditure and formalization of the economy, it activates key growth drivers for the economy within a challenging global environment," said Rajanna, also the vice chairman of Confederation of India Industry's Telangana unit.

"Overall, the budget builds positive sentiments among Indian industry and overseas investors that the government would remain on the path of fiscal prudence while taking all possible measures to boost growth," she added.-IANS